The head of Aramco, the largest oil producer in the world, called out individuals who “shame oil and gas investors” and emphasised the necessity for a reliable energy transition strategy. The global energy crisis, according to Saudi Aramco, was caused by a lack of investment in fossil fuels. Saudi Aramco also cautioned that excess production […]
According to a recent assessment from the Asian Development Bank, China’s economic growth this year will be weaker than that of the rest of emerging Asia for the first time in more than three decades due to COVID lockdowns. The group lowered its projection for China’s GDP in 2022 from 5.0% in April to 3.3% […]
One of the biggest oil and gas drilling companies in Saudi Arabia, Arabian Drilling Co., has declared its intention to float its common shares in an IPO on the Saudi main index. According to a filing with the stock exchange, Arabian Drilling said that the company would sell existing shares totalling 19.98% of its post-listing […]
Before a week packed with market vacations and central bank decisions from Washington to London to Tokyo, the dollar hovered close to a two-decade high on key rivals on Monday. The dollar index, which compares the value of the dollar to six other currencies, was 0.2% higher than Friday at 109.84, settling after a choppy […]
According to the World Bank, interest rate increases by central banks around the world could lead to a global recession in 2023. To combat rising prices, central banks have increased rates “with a degree of synchrony not witnessed over the preceding five decades,” the report said. The rate of price growth, or inflation, just reached […]
One of the top food and beverage enterprises in the UAE, Agthia Group PJSC, had its general assembly meeting digitally today. The Board’s request for an interim cash dividend payment at a value of 8.25 fils per share, with a total amount of AED 65.31 million for the six months ending on June 30, 2022, […]
The NEOM Media Village and Bajdah Desert Studios opened on Wednesday, according to a statement from the future metropolis of NEOM in Saudi Arabia. The two projects, which together make up the largest sound stages and film production facilities in Saudi Arabia, are intended to reform and expand the country’s media business, which is a […]
To move the Ethereum blockchain away from the antiquated Proof-of-Work (PoW) mechanism, the Proof-of-Stake (PoS) Beacon Chain and the Ethereum Mainnet are joined. As a result, Ethereum’s energy use will be reduced by 99.95%, enabling the Ethereum ecosystem to grow even further. As a result, Ethereum 2.0, a new version of Ethereum, will be created. […]
Geradin Partners, a law firm representing publishers will soon launch two lawsuits in British and Dutch courts against Alphabet subsidiary Google over its digital advertising tactics, seeking damages in the amount of up to 25 billion euros ($25.4 billion). “It is time that Google owns up to its responsibilities and pays back the damages it […]
One of Kuwait’s largest privately-owned companies, Alghanim Industries Ltd., is looking to raise nearly $1 billion through a prospective IPO, according to sources with knowledge of the situation. According to sources, the family-run company, which has a history dating back more than 100 years, is collaborating with banks on the potential listing, including Credit Suisse […]
The Michigan-based energy storage business Our Next Energy (ONE) and the BMW Group have reached an agreement for ONE to integrate its GeminiTM Dual-Chemistry battery technology into the BMW iX all-electric Sports Activity Vehicle. With its special long-range Gemini technology, ONE uses 20% less lithium, 60% less graphite, and very little nickel and cobalt. Lithium […]
The largest waste-to-energy project in the world, the Dubai Waste Management Centre (DWMC), has reached 85% completion, according to a recent announcement by Dubai Municipality. In keeping with His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision to elevate the emirate’s profile as a global model for sustainable development and solidify its position as the […]
The world’s longest-serving queen, Queen Elizabeth II, who witnessed the atrocities of World War II as a teenager and later, as an elderly monarch, the agonies of a lethal pandemic and the personal suffering of her own family’s strife, has passed away. She was 96. The British royal family stated that the queen passed away […]
On Saturday, September 3, NASA aborted its second attempt to launch an ambitious test flight of its new moon rocket due to a persistent leak that caused a delay in fuelling. An enormous Space Launch System (SLS) mega rocket was to have carried the space agency’s Artemis 1 moon mission into orbit on Saturday at […]
Ajman Bank, situated in the United Arab Emirates, has partnered with Mastercard to introduce a card for clients who are blind or partially sighted. The Mastercard Touch Card has characteristic notches on the side to assist clients to recognise it, and Ajman is the first issuer in the world to introduce it. Mohamed Amiri, Chief […]
